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U.S. bans BP from new gov't contracts after oil spill deal

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  • #1780

    4 drums coker

    The U.S. government temporarily banned BP Plc from federal contracts on Wednesday over its “lack of business integrity” in the Deepwater Horizon oil spill in 2010, a move that the British company had said could force it to rethink its entire U.S. operations.  (Reuters) Nov 28
    The EPA says the suspensions are standard practice.
    The suspension will not affect existing leases.

    Lawmakers seek more details on BP contract ban

  • #4562


    BP listed safety as the first point of its 10-point program to grow its value. “We know that safety is good business and this will show up in stronger and more reliable cash flows in the long run,” Bob Dudley said during a meeting with investors. The focus on safety comes after BP reached a settlement deal with the Department of Justice over criminal charges stemming from the 2010 Gulf of Mexico oil spill.
    BP Upstream Presentation Receives Mixed Response
    At the London presentation, BP told those present that it plans to raise capital spending to between $24 billion and $27 billion a year for the 2014-to-2020 period from $19.1 billion last year. The proportion allocated to its upstream activities will rise to around 80 percent of total capital spending in 2014 from around 70 percent in 2011.
    Paul Orlowski

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